Saturday, June 02, 2012

CiF: the universe's "strange attractor" for morons

I cannot express the horror I felt at the economic ignorance this tautology celebrates:

We're
not getting any investment right now from the wealthy - they're
hoarding cash by the truckload and plenty of it in government gilts.

What are gilts if they aren't investment, normally by the wealthy, in the government. Remember this is CiF and a penny spent by the government is worth a guinea spend by an evil capitalist libertarian baby-eater.

And 4 idiots recommended it.

Still, there was a response. And, then the response to the response, recommended by 41 of the most stupid people on the planet:

"Sorry, what do you think that Government gilts finance? They finance the public sector. The Government issues them to raise money to pay for
schools, hospitals."

They finance nothing. Gilts provide savings with interest for people that can afford to buy them. When originally issued bits of paper promising interest are merely swapped for bits of paper that dont, the latter previously supplied by the State
via deficit depending.

So government borrowing doesn't finance anything? WTFF are the bastards doing it for then?

I'm so horrified by this that I am actually going to have to go and do some work to clear my head before I start to enjoy the weekend!

Protect Your Bits

Nothing You Wanted to Know

A classical liberal & modern libertarian, economically laissez faire, and a governmental minimalist. Somewhat surprised to find this puts me way to the right of Chingis Khan.
Really, really pissed off at the endemic stupidity of the British governing cliques. Sometimes lets his potty mouth get the better of him.